| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 61st | Good |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3827 Main St, Mammoth Lakes, CA, 93546, US |
| Region / Metro | Mammoth Lakes |
| Year of Construction | 2003 |
| Units | 23 |
| Transaction Date | 2004-06-01 |
| Transaction Price | $4,000,000 |
| Buyer | MAMMOTH MOUNTAIN SKI AREA |
| Seller | PROJECT SIERRA HOUSING DEVELOPMENT CORP |
3827 Main St, Mammoth Lakes Multifamily Investment
Elevated home values in the neighborhood point to a high-cost ownership market that can sustain renter demand, according to WDSuite’s CRE market data. With a smaller local renter base, well-positioned units can compete on quality and convenience rather than scale.
The property sits in a suburban neighborhood of Mammoth Lakes that is competitive among Mono County neighborhoods (ranked 4 out of 13 overall, A-). Grocery access is a local strength, ranking 1 out of 13 in the metro and placing the area in the top quartile nationally, while restaurant density is also competitive (ranked 2 of 13 and above the national median). In contrast, cafes, parks, and pharmacies are limited nearby, which may encourage more destination-oriented shopping trips.
Demographic indicators aggregated within a 3-mile radius show a relatively small community with higher household incomes compared with national norms (around the 72nd percentile). This supports a tenant profile able to meet market rents, while the neighborhood’s rent-to-income ratio sits at a level that suggests manageable affordability pressure for lease retention. For investors, this combination typically supports pricing discipline and stable collections.
Home values in the neighborhood are in the 96th percentile nationally and the value-to-income ratio is near the top of U.S. neighborhoods, which reinforces renter reliance on multifamily housing and can support occupancy stability. The local renter-occupied share is smaller than many metros, implying a more limited but targeted tenant pool; assets that emphasize convenience and finish quality often capture demand efficiently in such settings. This neighborhood context aligns with findings from WDSuite’s commercial real estate analysis.
Vintage is another competitive factor: with an average neighborhood construction year of 1991, a 2003 asset can compare favorably to older stock while still benefiting from selective modernization to drive NOI. Investors should underwrite to the area’s amenity mix—strong grocery and dining access but fewer daily-needs services within immediate proximity—when positioning units and setting marketing strategy.
Neighborhood-level crime metrics were not available in the provided dataset. Investors typically benchmark safety by comparing neighborhood trends to county or metro patterns and reviewing recent reports from local authorities and insurance carriers. As always, site-specific due diligence—daytime and evening visits and discussions with property management—provides the most reliable context.
Built in 2003, this 23-unit asset is newer than the neighborhood average and can compete effectively against older inventory while leaving room for targeted upgrades to support rent growth and tenant retention. Elevated home values and a high value-to-income environment suggest sustained reliance on rental housing, which can underpin occupancy stability for well-managed properties. According to CRE market data from WDSuite, local amenities skew toward groceries and dining, supporting livability even as certain daily services are less dense nearby.
Demographic data aggregated within a 3-mile radius indicate higher-than-average household incomes and a smaller renter-occupied share, pointing to a focused tenant base rather than broad-volume demand. Positioning around quality, convenience, and professional management should align with neighborhood dynamics, while underwriting should acknowledge the leaner renter pool and the need for competitive finishes.
- Newer 2003 vintage versus neighborhood average, with selective value-add potential
- High-cost ownership market reinforces rental demand and supports pricing discipline
- Strong grocery and dining access aids livability despite fewer nearby daily services
- Higher-income tenant profile within 3 miles supports collections and retention
- Risk: smaller renter-occupied share limits scale, requiring competitive positioning and asset quality